Fuel duty increase to be scrapped?
- Chancellor hints rise could be axed
- Increase would be a penny per litre
- Duty stabiliser also being considered
Chancellor George Osborne is considering axing the planned increase in fuel duty due this spring.
In an interview with BBC Radio WM, Osborne said: 'We can override it. We are looking at that.'
The increase of a penny per litre is due in April and would be in addition to inflationary increases of around twice that amount due at the same time.
Osborne also said that a fuel duty stabiliser, in which the tax was linked to the price of crude oil, was still being considered, but gave no details. In fact, he may not reveal a decision until the Budget on March 23.
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